Australia’s next rare earths producer Hastings Technology Metals Limited (ASX: HAS) today announced excellent drill results at the Yangibana deposit in Western Australia’s Gascoyne region.
HIGHLIGHTS:
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Drilling at the Yangibana deposit, part of the Yangibana Rare Earths Project, extends mineralisation at depth which remains open, with further follow- up drilling planned.
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3,331m of drilling was completed to in-fill portions of the Mineral Resource model.
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34 out of the 35 holes drilled intersected mineralisation above the TREO lower cut-off used in the Mineral Resource estimation process.
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Results demonstrate geological continuity of grades at depth along the entire 1,000m of strike covered by the drilling.
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The Yangibana deposit has a JORC Mineral Resource of 1.95Mt @ 0.88% TREO, with 48% of the TREO reported as neodymium and praseodymium – underscoring the high value, world-class geology at Yangibana.
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High-grade intersections from Yangibana included:
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1m @ 1.56% TREO from 53m;
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2m @ 1.19% TREO from 76m;
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7m @ 1.10% TREO from 74m;
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3m @ 0.96% TREO from 95m; and
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6m @ 0.81% TREO from 66m.
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The Yangibana deposit sits within a 20km-long corridor of rare earths mineralisation that is well defined and under explored.
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The Yangibana deposit assay results will be included into the overall Yangibana Project Mineral Resource Estimate upgrade due this Quarter.
The Yangibana deposit and open pit, one of several at the Yangibana project, has a Measured, Indicated and Inferred Resource of 1.95Mt @ 0.88% TREO.
The infill drilling program was designed to plug existing gaps and test extensions to the Mineral Resource model at depth (Figure 2.). Approximately 48% of the Yangibana deposit’s total rare earth oxides (TREO) are neodymium (Nd2O3) and praseodymium (Pr6O11), the two most important and indemand rare earths globally. These levels of Nd2O3 + Pr6O11 are considered world class and underscore the value of the Yangibana project. Nd2O3 + Pr6O11 are considered the two vital and key rare earth elements required for the rapidly expanding electric vehicle market.
At the Yangibana deposit, 35 drill holes tested approximately 1,000m or 50% of the length of the currently defined open pit. Results as presented in Figure 2 confirm that mineralisation remains open at depth, with the deepest hole intersecting the orebody some 100m vertically below surface.
The current 2km length of the Yangibana deposit sits within a 20km-long rare earths geological structure across the Yangibana project that is well defined through surface geological mapping and geophysical surveys. Substantial exploration upside exists along the entirety of this structure.
Hastings Technology Metals Chief Operating Officer Andrew Reid commented:
“These drill results at the Yangibana deposit further demonstrate the scale and quality of the mineralised system, with width and grade continuity intersected along the entire 1km of strike that was tested. The Yangibana deposit sits within a much broader 20km-long rare earth structure across the broader Yangibana Project area that has significant additional potential.
“Hastings has continued to demonstrate the exploration upside, both near-deposit and regionally, while at the same time progressing the well-funded development pathway at the Yangibana Project. As the Mineral Resources continue to grow, we are preparing for the start of early-stage construction activities.”
